Call reports 2008
COVENANT BANK — 2008
What COVENANT BANK reported to the FFIEC in 2008, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Total assets | 27,650,000 | 46,782,000 | 49,792,000 | 59,396,000 |
| Total loans | 11,753,000 | 24,435,000 | 34,043,000 | 45,262,000 |
| Allowance for loan losses | 162,000 | 277,000 | 372,000 | 479,000 |
| Securities available for sale | 12,098,000 | 13,194,000 | 11,117,000 | 11,155,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 9,268,000 | 27,980,000 | 30,644,000 | 37,738,000 |
| Interest-bearing deposits | 6,751,000 | 23,335,000 | 27,104,000 | 33,837,000 |
| Noninterest-bearing deposits | 2,517,000 | 4,645,000 | 3,540,000 | 3,901,000 |
| Equity capital | 12,236,000 | 11,754,000 | 11,537,000 | 11,572,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Interest income | 239,000 | 629,000 | 1,252,000 | 1,995,000 |
| Interest expense | 33,000 | 114,000 | 284,000 | 517,000 |
| Net interest income | 206,000 | 515,000 | 968,000 | 1,478,000 |
| Noninterest income | 1,000 | 3,000 | 8,000 | 15,000 |
| Noninterest expense | 537,000 | 1,615,000 | 2,255,000 | 2,730,000 |
| Provision for loan losses | 112,000 | 227,000 | 322,000 | 429,000 |
| Pretax income | -442,000 | -1,324,000 | -1,601,000 | -1,666,000 |
| Income tax | 0 | 0 | 0 | 0 |
| Net income | -442,000 | -1,324,000 | -1,601,000 | -1,666,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Tier 1 capital | 12,223,000 | 11,791,000 | 11,514,000 | 11,228,000 |
| Total capital | 12,385,000 | 12,068,000 | 11,886,000 | 11,707,000 |
| Risk-weighted assets | 15,094,000 | 23,887,000 | 33,148,000 | 42,563,000 |
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